Semiconductor manufacturing requires a variety of process tools that utilize pressurized gas and/or vacuum to operate. Such tools include deposition tools and polishing tools, for example. In some cases, effluent adhering to pipe sidewalls gradually reduces the inside diameter of a pipe over time. This in turn makes the internal pressure higher, which can cause seal failures at pipe fittings. Often, an O-ring seal is employed in a pipe fitting which connects two pipe segments together. The increased pressure can cause O-rings to burst or leak. In a manufacturing environment with many process tools utilizing a variety of pressurized gas and vacuum sources, identifying the location of such a leak can be challenging. Furthermore, in some cases, the gases in use are highly toxic to people, warranting a need to quickly identify and locate such leaks for the safety of personnel on site. Ultrasonic leak detectors are not effective on active exhaust leaks as they can falsely identify flow in the pipe as a leak. Prior art exhaust gas detectors are large and bulky and provide only coarse information regarding the location of a leak. Therefore, it is desirable to have an improved pipe monitoring system and method for detecting and locating pipe leaks.